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Tk 1,13,819 crore budget announced: Luxuries dearer, proposals to expand tax, VAT nets, overall deficit Tk 34,358 cr
Staff Reporter
Finance Minister Abu Mail Abdul Muhith yesterday placed a Taka 1,13,819 core budget for 2009-10 fiscal year with an overall deficit of Taka 34, 358 crore. The deficit is to be met from Taka 20,555 domestic borrowing including Taka 16,755 from the banking system and Taka 8,673 crore foreign borrowing.
The proposed budget having a total development outlay of Taka 33,059 crore including a Taka 30,500 Annual Development Programme is about Taka 14 crore larger than the budget estimate of Taka 99,962 crore of the current fiscal year.  |
Prices to rise, prices to fall Staff Reporter
Prices of luxurious goods including cars, vehicles, imported refrigerators, air conditioners, shoes, tiles, sanitary ware, particle board, biscuits, milk powder, suitcases, imitation jewellery, tooth brush and tobacco products will go up due to upward tariff structures proposed by Finance Minister ABM Muhith.
Prices of most of the brands of mobile phone sets, particle board, hard board, medium density fibre (MDF) board, plywood, leather goods, such as bag, suitcase, vanity bag etc., mosquito coil, imitation jewellery and corrugated cartons, biscuits and dry cell batteries would also rise. |
Mixed reaction: 'Anti-people, ambitious’
Staff Reporter
Leaders of different political parties in their instant reaction yesterday termed the Budget for the fiscal 2009-10 as 'anti people and ambitious'.
They said the budget for the next fiscal is highly rhetoric rather than reality and it has no specific guidelines for ensuring the welfare of the mass people.
By allowing whitening black money in the proposed budget would only help richer section and it would also encourage people to earn black money.
The Annual Development Programme (ADP) has increased in the proposed budget without any 'plan and preparation' for its implementation. |
1818 imported vehicles cleared in 5 hours
Chittagong Bureau
Officials of the import wing of Chittagong Customs House (CCH), biggest revenue earner for the national exchequer, reportedly became over efficient and finished formalities of clearing more than 1800 automobiles before Wednesday midnight.
According to some of the retired customs officials the state exchequer could have received more than Taka 540 million if the clearing process of the large number of imported automobiles was done under the usual system. |
Budget hailed
Staff Reporter
Eminent economists and business leaders hailed the proposed national budget for fiscal 2009-10, presented by Finance Minister Abul Maal Abdul Muhith in parliament yesterday.
They underscored the need for proper implementation of the budget.
Former Bangladesh Bank Governor Dr M Farashuddin said the proposed budget is positive.
Budget implementation does not mean mere spending of the allocated money. There must have implications, he said and suggested ensuring strong monitoring and bringing dynamism in administration for proper implementation of the budget. |
Tk 1,176cr allocated for employment generation: 2.5pc GDP to be spent on social-safety net
UNB, Dhaka
As the new government stresses strong and expanded social-safety net in its flagship vision of change, Finance Minister Muhith proposed to allocate Tk 1,176 crore for employment generation for the hardcore poor in a bid to give a shot in the arm of the rural economy.
In his budget speech in parliament yesterday he said almost 15.2 percent of total non-development and development budget, which is almost 2.5 percent of GDP, will be allocated in total for the social-safety-net and social-empowerment programmes aimed at helping out the have-nots. |
Power generation to rise to 20,000 MW by 2021
Staff Reporter
The government has stressed the private sector involvement to increase electricity generation to 20,000 MW by 2021 from 3,800MW at present.
Finance Minister Abul Maal Abdul Muhith in his budget speech said, "We are determined to take appropriate steps to increase power generation to 20,000 MW by 2021. It is not possible on the part of the Government alone to finance huge investment. We have, therefore, embarked upon involving the private sector in short, medium and long term plans."
"In 2009, 440 MW will be added from 11 projects under the private sector. |
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Internet Edition. June 12, 2009, Updated: Bangladesh Time 12:00 AM 
